3/3 Chapters 10&11 Flashcards
positioning problems
too much complexity
desired position may already be taken
market may have changed
four p’s
product, place, price, promotion
products
what is a product?
new product development
new product adoption
real madrid
awesome brand
good service continuum
tangible goods vs intangible goods
services
intangible
heterogeneity - quality depends on who provides the service, and when, where, and how
inseparability
perishability - you can’t store for later use
convenience good
bought frequently, low price, many locations
shopping product
bought less frequently, higher price, fewer purchase locations, comparison shop
specialty product
high price, unique characteristics, brand importance, few purchase locations
unsought products
consumers don’t want to think about or purchase them
product decisions
quality
packaging
helps draw attention
reasons for new products
growth - sales, market share brand leadership recruiting increases sales life better margins more resale opportunities
new product development strategy
come up with new ideas
discontinuous innovations: brand new products
continuous improvement: constant research
new product development steps
- NPD Strategy
- Idea Generation
- Idea Screening
- Business Analysis
- Development
- Test Market
- Commercialization
